Estonia Post's online invoicing service boasts 300% growth

Estonian Post has said its online invoicing service has had a “very successful” first quarter of 2011, nearly tripling its revenues compared to the same period last year. The company said public sector organizations were an important part of the growth in the eInvoicing Centre (eArvekeskus), and that hundreds of businesses and agencies were now joining the web-based service each week.

Last month saw Estonia’s Finance Ministry and its Prosecutor’s Office signing up to use the service.

Launched in 2009, the only domestic e-invoicing service in Estonia allows invoices to be sent by email, in PDF format, more quickly than through the physical mail, but with guaranteed security during transmission and processing.

An invoice tracking process also allows for better corporate reporting, Estonian Post said.

The eInvoicing Centre provides a “reliable and proven” platform for a massive switch to electronic billing services in Estonia by 2020, the Post said, as set out in European Union development plans.

Margus Tammeraja, eInvoicing Center Manager, said: “The eInvoicing Centre has reached a stable growth phase in its development – our internet-based services offer reliable and always-available environment for billing management for both large and small businesses.”

Estonia Post’s eInvoicing Centre was originally developed by Tallinn-based software company Webmedia AS, which is continuing to work to run and improve the facility.

Last year, the biggest development was the digitization of purchase invoices, Estonian Post said. This year, the company plans to add extra capabilities tailored specifically for the needs of public sector agencies.

Upgrades will also be made to services for private sector companies, including invoice archiving facilities that would help with customs and taxation requirements.

Tammeraja said: “In the future we plan to improve the existing services as well as add new options in order to meet growing customer needs.”